Bottom? There was a bottom?
[wake me up on 10/15]
I used some dividend money from one account that were sitting in cash and used it to increase my position in SDLP. Of course it immediately dropped over 12% today right after I bought it.
Didn't buy at the very bottom and didn't sell at the very top, but I have the exact same stock positions I had before August 20 and yet my account has $6,500 more cash in it (and no I didn't write a check or get a dividend).
I guess you don't have to buy at the bottom or sell at the top to win the game, as long as you don't play the game too often.
Congrats this is a great result. I sat there Monday in disbelief that my RPG fund was down so much, I couldn't understand how such a gap from the underlying securities could have existed and failed to buy. I only time my small money except in 2008 when I felt overwhelming need to leave market so what made you buy back in versus wait more?
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A one-day recovery and we declare the bottom already? What about tomorrow?
I hate having to keep buying every time the market drops until I find that bottom. I do not have that much cash. Guys like Mulligan just keep on selling, more than you can shake a stick at.
Gotta save my cash for when posters here cry uncle.
I thought it was a computer error when I saw Apple for $95 and Gilead for $86 (nobody I chat with got it for that low though). These are rare times when you can buy into something with very low risk of losing out on the trade.
.... I did buy 200 shares NGHCZ of Monday. But that is just another lowly preferred stock though yielding 8.25% when I bought.
I looked and this started to trade only a few days ago. The yield is awfully good, and the issuing corp, an insurance company, appears to have stable financial standing. What's going on here, as I do not believe in risk-free rewards?
I have thought of preferred stocks in the past, but I guess I like the up/down of common stocks, which make life less boring. So, I did not spend that much time researching the universe of this asset class. But the yield above makes it more attractive than, say, SPIA annuities, despite the obvious higher risks.
Sometimes the best course of action is to do nothing at all!